Focus on Funds writer Brendan Conway says not for fund investors, who keep plowing new money into ETFs. Nor for investors in gold - the metal's price once again can't catch a break.

This transcript has been automatically generated and may not be 100% accurate.

I ... a government shutdown at midnight in the markets are saying ... so I ... on Jack Otter and her parents got on Europe Brendan Conway rights are focused on phones brought ... to Britain in the air is the market that you watch what indicators do you see if sentiment when traders think of a government shutdown ... Jack Unwin thing watches you look and money is flowing in and out of our clients ... up to seventeen and a nice easy run TT apps ... and what you see there is the same thing she saw in the last month which is gung ho polish ... we like the stock market ... money to work in us put it to work in your ... car isn't working you know who ... oversees emerging markets ... um in in fact I checked the numbers over the last twenty four hours or so when people really started to talk about this ... affair mask ... on and you know it's the same old story people want Stocks to announce that ... it is the same sort of like a aam buy the rumor to really sell the rumor buy a new sort of thing because we have a couple of down days and then suddenly not so much in yen you know if you look at the flowers feathers down days as asset prices were falling ... people were putting money ... into the ZTS said that tells you what they think the longer trend is that I was too long ... so gold is the fear trade when people are scared they poured money into gold ... buckles had a great run ... I you not talk about a lot as an indicator of sentiment wordy scene right now I can even check as soon as word and had ... to shut down was happening ... first up there's no reaction in the price of all the things that people were scared ... they might come back to feeling is this even ... that they ... have for a long time what actually happened though was our early the morning ... of the shots and tear these rumors of a major funds ... sell in the fiscal position in the price is down ... about three percent to me that's just the same old story for you know basically most of two thousand thirteen which is the big institutions ... that have benefited from the rise and called for a decade or so on ... they now want out so it no Pietersen interesting obviously if we should get the point of ... the threat of a government default I suspect the gold situation would reverse very quickly ... outlets that were also timing traders here what about long-term investors some people say it's a good idea to have to five percent of your portfolio in gold is ahead what's your opinion on that ... day not just because the price of gold does move differently from stocks and bonds is ... really just kind of mock it's um walk ... that that can be an argument for spending of returns is due to the public for a long time ... the magician expects ... what's happened with the last decade we enter year Goldman up and up and up ... and it just yet ... I don't think that's gonna happen going forward as it is pretty exceptional it's about a five fold increase since two thousand it was massive increases year after year ... thank so much for things to ... thank you ...